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Implications Technology has sped globalization  One large market for labor, capital and other inputs ‘’The second machine age’’ Where is this all going to lead?

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The solutions  Adjust and adapt  Educated work force and an entrepreneurial culture  Public investments in high-quality basic services

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Critique  Lack of empirical evidence  The access to cheap labor will continue to matter  Not everything is economically viable to automate Automation? Cheap labor High product variety High production amount

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Critique  Why would the second machine age be different from the first one?  Although structural changes tend to wipe old jobs away, they to tend to create new ones in return  Digital capital is not always accessible for “next to zero cost” replication  Ideas are not everything  Skilled labor and capital is needed for execution